Even in this economy, saving is still possible, Sailors say

By Andrea Howry, Lighthouse editor

2:02 PM, Apr 4, 2012

From left, CMCN Nicholas Cestaro, CMCN Jonathon Charles and Brittany Barton, an administrative assistant at the Fleet and Family Support Center and the spouse of HM1 Neil Barton, listen to more money-saving ideas as they prepare to pick up their Military Saves Week awards.

Photo by Andrea Howry / Lighthouse

Two Sailors and a dependent who are saving money for retirement, future needs and unexpected surprises met at the Fleet and Family Support Center recently to pick up awards for their commitment and share ideas on how they’re making it work during a tough economy.

Construction Mechanic Constructionman Nicholas Cestaro, who has been in the Navy for only three months, is putting away 2 percent of every paycheck.

Construction Mechanic Constructionman Jonathon Charles sold his car before he joined the Navy three months ago and is now putting away the equivalent of both a car payment and a car insurance payment.

Brittany Barton, an administrative assistant at the Fleet and Family Support Center and the spouse of Hospital Corpsman 1st Class Neil Barton, is putting away 10 percent of her paycheck — and her husband is putting away 15 percent of his.

“Our tax return is going into savings, too,” she said. “We’re saving for a house.”

Charles is saving for a house, too — one for his son, who’s now 2 years old.

Cestaro doesn’t have any spending plans — only a savings plan.

“This is in case I ever hit hard times,” he said. “This way, I know I’ll have a backup. And if I want to splurge, I can.”

The three became motivated during Military Saves Week, which ran Feb. 19-26. Sailors who “Took the Pledge” and decided to save money on a regular basis could drop a card into a Military Saves box and be eligible for prizes.

So March 14, Cestaro won an entertainment book filled with discount coupons for local establishments. Charles won coupons for free bowling, and Barton won a free Tuesday buffet at Bard Mansion.

Other prizes included a two-night stay at the Beach Motel and free rounds of golf. There were 12 winners in all.

“Military Saves Week and the ongoing Military Saves campaign are geared to getting Sailors thinking about not just saving, but investing,” explained Jim Ramey, a financial educator at the FFSC, Port Hueneme. “It gets them thinking about different programs.”

Ramey doesn’t want to see any Sailor having to choose between paying a bill and buying groceries.

He said he was proud of the Sailors in the room who are seeing gas prices go up — everything go up except their paychecks — and are still making a commitment to save.

“I’m glad you’re thinking in those terms,” he told them. “A lot of young people today aren’t.”